All Eyes on U.S. Initial Jobless Claims Data
10.02.2022
- U.S. Consumer Price Index (CPI)
- U.S. Initial Unemployment Insurance Claims
Yesterday, the U.S. dollar strengthened against the pound, and the GBP/USD pair fell from 1.358 to 1.352.However, the GBP/USD pair has halted its decline, finding support at the 200-period SMA on the hourly chart. Since it has held steady without touching the recent low on the 4-hour chart or the support level at 1.351, we will be watching closely to see if a rebound occurs and the pair moves higher.
Among European currencies, the EUR/GBP pair—which involves two European currencies—showed some movement, rising from 0.841 to 0.845.From a technical perspective, the EUR/GBP pair remains in a downtrend on the daily chart and is currently trading within a descending parallel channel. We will be watching closely to see if the pair breaks above the upper boundary of the parallel channel at the 0.850 level.
Today’s schedule includes Turkey’s unemployment rate at 16:00 European time, South Africa’s manufacturing production at 20:00, and—once U.S. trading hours begin—U.S. initial jobless claims and the U.S. Consumer Price Index at 22:30, U.S. weekly natural gas inventories at 24:30,at 26:00, remarks by Bank of England Governor Bailey; at 27:00, the U.S. 30-year Treasury auction; at 28:00, the U.S. trade balance; and at 7:30 the following day, remarks by RBA Governor Lowe.I plan to monitor currency strength and weakness while remaining vigilant for price fluctuations resulting from today’s U.S. Consumer Price Index (CPI) and initial jobless claims data.
Author: Keisuke Sakurai
